₦airaland Forum

Just30:
or maybe you couldn't read

ProudlyKenyan:
You speak for me. The data from nigeria is horse manure. You'd be bonkers to trust it. No way it can even be compared to south africa.As you rightly pointed - it budget is about kenya's - that the real money they spend to pay salaries, build roads and gov services. I wish they could cash out their 500b gdp and use it to develop nigeria.

I'd love to read their GDP calculation data - I wonder how IMF and WB accepted those figures as credible?

Boyedex:
Somebody deliberately doesn't want to believe that Nigeria has the biggest economy in Africa, it's their choice. You can't force people to not be dull if they so choose. And that's not gonna stop the institutions that matter from quoting Nigeria as indeed the biggest in economic activities.
In dollar terms, price of office spaces and apartments in Lagos, Abuja and Port Harcourt is in multiple of what is obtainable in Kenya. Economists know the good and bad implication of this. If you are smart, you'd see why Lagos is richer than the whole Kenya.
I will continue to reiterate, Nigeria with its myriad of problems right now is far enormous to be compared to Kenya, an equivalent to just one state here.

14:
I remember when bloomberg broke the news about South Africa overtaking Nigeria once again to reclaim top spot, Mr Dangote jumped up laughing about the bloomberg claim. I for one expected that reaction from Nigerians. They will never accept that any other country in Africa is bigger than them, that biggest economy status is for life, believe you me. Later on they sent the GDP stats to IMF as $415bn compared to bloomberg claim of $275bn based on their currency exchange rate with the dollar. Some nigerian commentator was furius on TV explaining the Nigerian GDP calculation, saying that the oil sector is calculated in dollars and not Naira.

The question i asked myself was, why SA GDP is determined based on its exchange rate, converting Rand to Dollar, but that cant be done in Nigeria. Thats when i started questioning the validity of their stats as a whole, very questionable. You cannot have a GDP of $500bn and only raise a tax revanue of $21bn, the maths does not add-up. Even if you can come up with an excuse of the economy being largely informal, $21bn is too little considering 90% of it comes from oil. So my question is, how did you quantify that informal economy or it was just by estimate. On top of that you claim to float your currency, while you peg it at N305 to the dollar, while the parallel market is at N470 to the dollar. SA has only one currency exchange rate, unlike nigeria which has more than 4 currency exchange rates, N290, N305, N400, N470 to the doller, which one is the correct one. Nigeria is going through what venezuela is going through.

The problem is, the masses are the ones that are suffering while the government is busy giving them propaganda on a daily basis. Hence they cant wait to leave the country for greener pasture, because their government has failed them. This is what happens when you continue cooking up stats in a bid to loo FDI, it catches up with you at the end. This is a zimbabwe in a making, watch the space. Once you start struggling to pay government workers, how are you gonna fix the roads, hospitals, schools. whats left is a total collapse because that oil price wont go back to $100 to the barrel anymore. The government keeps on lying to its citizens that they are going to borrow $6bn before end of 2016, its december now where is the $6bn and the china yuan deal, and the indian $20bn oil deal, its all lies, how do you borrow $6bn when your debt service from your budget is 38%. That means in every $100, $38 goes to service debt and that could grow if indeed you manage to increase it by $6bn. It could grow to 50%, meaning if the 2017 budget is $20bn, $10bn would be going to pay debt, thank God i am not Nigerian.

Oxtonguy:
Point of corrections Ibadan is an ancient city and not a slum and kibera has a population of about 2.5 million meaning up to half of people in Nairobi are living in a slum but don't worry I will help you out of your ignorance

Oxtonguy:
Another ignorant,any body can post anything on Wikipedia to suit his wish, I got mine from a reliable and unbiased source so get off with your indomine Wikipedia

Another housing estate in IBADAN

Boyedex:
Somebody deliberately doesn't want to believe that Nigeria has the biggest economy in Africa, it's their choice. You can't force people to not be dull if they so choose. And that's not gonna stop the institutions that matter from quoting Nigeria as indeed the biggest in economic activities.
In dollar terms, price of office spaces and apartments in Lagos, Abuja and Port Harcourt is in multiple of what is obtainable in Kenya. Economists know the good and bad implication of this. If you are smart, you'd see why Lagos is richer than the whole Kenya.
I will continue to reiterate, Nigeria with its myriad of problems right now is far enormous to be compared to Kenya, an equivalent to just one state here.

highheybee:
You can prove me wrong bro...it's allowed...bring it on

KenyaMan111:
No one is comparing enormity, congratulations for being enormous. I am perplexed and slightly confounded. All that wealth and GDP, but I still cannot fathom where it's going.

Enlighten me kiddo, why is the woman in the second picture contemplating on cannibalism as a means to eat. Surely you're rich to enough to feed her, no?

NairobiWalker:
Yet your source is also Wikipedia.lawd - when you thought somebody couldn't get more stupid.

NairobiWalker:
Kibera is a slum in Nairobi with a population of only 170k people. Ibadan is a big city with a population of over 3M. You are the most stupid person on this thread.

Jayceon:
your post is full of bitterness,whose fault is it that you were born in a demonic boko haram state called naija??NOT OURS OBVIOUSLY!!!

What do you think about this..https://www.nairaland.com/3483250/9579-lagosians-tested-positive-hiv

Nigeria is the joke of the entire world,we come here to bash you for our own amusement

No!!! Nigerians should be the last people to insult any country

NairobiWalker:
When you have 180M people voting for you for no reason other than living within the same boundaries as them you can beat any musician who is way better than you.

NairobiWalker:
90 PERCENT of Ibadan is a slum my dear,

LeSudAfricaine:
Inhabitants of those two countries

Boyedex:
Somebody deliberately doesn't want to believe that Nigeria has the biggest economy in Africa, it's their choice. You can't force people to not be dull if they so choose. And that's not gonna stop the institutions that matter from quoting Nigeria as indeed the biggest in economic activities.
In dollar terms, price of office spaces and apartments in Lagos, Abuja and Port Harcourt is in multiple of what is obtainable in Kenya. Economists know the good and bad implication of this. If you are smart, you'd see why Lagos is richer than the whole Kenya.
I will continue to reiterate, Nigeria with its myriad of problems right now is far enormous to be compared to Kenya, an equivalent to just one state here.

naijalander:
The leaders in both countries are controlled by multinational corporations. Like Nigeria too only in Nigeria the indigenes have slightly more contribution than in either Kenya or SA.

Mind you black people are already ruining SA, call me a self hating racist but take a look around you after to understand what I mean.

naijalander:
mehn you neegaz can go eat a deek.

Naija people don't have time to hate.

highheybee:
Enlight me

AfroCircus:
Not an insult, just an honest question. Have you ever been out of Nigeria, out of West Africa and preferably to the other African geopolitical regions?

naijalander:
Yeah because you have never used wiki before. Get over yourself please.

naijalander:
You can make your points without insults.

naijalander:
This is bullsheet and you know it. Whoever won an award won it cos they have good music.

Alikiba this Alikiba that...but the rest of Africa does not know Alikiba but they do Wizkid.

naijalander:
We have been through this before. 90%? Really

NairobiWalker:
Kenya is 225k sqmi. not 200k.

NairobiWalker:
Yet your source is also Wikipedia.lawd - when you thought somebody couldn't get more stupid.

Oxtonguy:
Churlish chump meanwhile this is my source,kenya with smaller landmass has much more slum go eat urself up www.africaranking.com/20-worst-slum-in-africa-html